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Miles Electric Vehicles Filed for Bankruptcy

Miles-EVs
Miles Electric Vehicles, a California-based electric car automaker, filed for Chapter 11 bankruptcy protection early Tuesday.

Miles Electric Vehicles, founded in 2004 by entrepreneur Miles Rubin, listed estimated assets in the range of $10 million to $50 million, and estimated liabilities of between $50 million and $100 million.

Miles Electric Vehicles was one of the first U.S. companies to import small, battery-powered electric cars from China.

It has focused mainly on low-speed vehicles – electric cars limited to speeds of 25 miles per hour. The automaker has four low-speed EVs: ZX40, ZX40S, ZX40S Advanced Design and ZX40ST electric truck.

All electric vehicles were available in the US and used by various organizations such as NASA, several universities and others.

Jun 12, 2013Blagojce Krivevski
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Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

June 12, 2013 Electric Car Newselectric vehicles, Miles Electric Vehicles, Miles Electric Vehicles Bankruptcy
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